The spot exchange rate for Indian rupees is 41 INR/CAD.The one-year forward exchange rate is 42 INR/CAD and the one-year Canadian interest rate is 4%.What is the implied one-year interest rate in India?
A) 6.54%
B) 6.24%
C) 6.77%
D) 6.29%
E) 6.41%
Correct Answer:
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